Delaware

Olympus Property-Ascend-by-the-Sea

MILLVILLE, DEL. — Olympus Property, a Fort Worth, Texas-based multifamily owner and operator, has acquired Ascend by the Sea in Millville. The 216-unit property opened in 2024. The seller’s identity was not disclosed, but the project was originally brought forward as Tupelo Sands, with town plan documents identifying DHI Communities as the developer. This sale marks Olympus’ first owned property in the mid-Atlantic region. According to the community website, the asset’s name has been changed to Olympus by the Sea. Amenities include a resort-style pool, fitness center, coffee bar, coworking …

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Mi-Place at Vineyards

LEWES, DEL. — Lument has arranged a $14 million commercial mortgage-backed security (CMBS) loan for the refinancing of Mi-Place at Vineyards, a 41-unit mixed-use asset situated along the Delaware Bay in Lewes. The developer and borrower is Fernmoor. The CMBS loan has a fixed interest rate and five-year term. It replaces existing debt from a local bank. Ben Retter of Lument negotiated the financing. Mi-Place at Vineyards is part of a master-planned community that includes apartments, condominiums, for-sale carriage homes and townhouses. The property also includes 65,000 square feet of …

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